MOSCOW, April 10, 2014 (GLOBE NEWSWIRE) -- Mechel OAO (NYSE: MTL ) , one of the leading Russian mining and metals companies, announces the launch of a pilot project on stepping up the efficiency of measures for improvement of labor conditions at the Group's enterprises.
The project will be implemented jointly with Russia's Federal Labor and Employment Service as part of that agency's new activity model – Open Labor Inspection, which is due to be set up in the Russian Federation by 2018.
Mechel Group was chosen for implementing this project as one of Russia's major employers, with activities involving diversified industrial facilities.
As part of the project, a monitoring will be held in 2014, analyzing work conditions and labor safety systems in 21 of Mechel's facilities. As a result, a comprehensive plan for improving work conditions will be designed, taking into account the newest amendments to Russian labor law.
"We are grateful to Russia's Labor and Employment Service for choosing Mechel as one of Russia's major employers for testing their new project. Our company consistently implements promotion programs for our personnel, educational and social programs. We invest a lot of effort into creating comfortable work conditions for our employees and strictly comply with all labor law requirements. Implementing this project will enable us to improve work conditions and efficiency of our employees' labor safety activities," Mechel OAO's Vice-President for Human Resources and Social Policy Elena Selivanova commented.
Mechel is an international mining and steel company which employs over 80,000 people. Its products are marketed in Europe, Asia, North and South America, Africa. Mechel unites producers of coal, iron ore concentrate, steel, rolled products, ferroalloys, heat and electric power. All of its enterprises work in a single production chain, from raw materials to high value-added products.
Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of Mechel, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statements. We refer you to the documents Mechel files from time to time with the U.S. Securities and Exchange Commission, including our Form 20-F. These documents contain and identify important factors, including those contained in the section captioned "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" in our Form 20-F, that could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, the achievement of anticipated levels of profitability, growth, cost and synergy of our recent acquisitions, the impact of competitive pricing, the ability to obtain necessary regulatory approvals and licenses, the impact of developments in the Russian economic, political and legal environment, volatility in stock markets or in the price of our shares or ADRs, financial risk management and the impact of general business and global economic conditions.
Mechel OAO Ekaterina Videman Tel: + 7 495 221 88 88
